Notes to SEFA
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS For the Year Ended December 31, 2025 Note 1- Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Rapides Housing authority (the “Authority”) under programs of the federal government for the year ended December 31, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority. Note 2- Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3- Relationship to Basic Financial Statements. Federal award revenues are reported in the Authority’s basic financial statements as follows: General: Section 8 Housing Choice vouchers Public Housing Operating fund Public Housing Capital Fund $ 2,054,315 1,135,775 702,250 Total $ 3,892,340 Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with U.S. generally accepted accounting principles. Note 4- Federal Pass-Through & Direct Awards All federal awards presented in the Schedule were received from HUD unless otherwise noted. Note 5- Indirect Cost Rate The Authority has not elected to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Note 6- Subrecipients No federal awards were provided to subrecipients during the year. Note 7- Noncash Assistance, Insurance, & Loans No noncash assistance, insurance, or loans were received or outstanding during the year.